You could put it that way, but you don't have to give so much thought to what the numbers represent so long as you can get the neccesary information from their utilization.
When I learned about them first, it was as a tool for balancing reactions, since some reactions have to be balanced with respect not to molecules o ions, but with respect to electrons, like the one I posted above. In that sense you are right, the actual alue has no physical meaning. It's kind of like potential energy. The value in question can be anything, but it's change during precesses is well defined.